and also Nifty weekly charts closed below 20EMA for the second week continiouly. And weekly resistance

coming near 4431- 4447 range And also i try to analyse some its constituents like Reliance, L&T, ICICI, SBI,

HDFC, Reliance Communication, BHEL. Almost all the stocks are below 20 EMA except BHEL. And BHEL

is currently in the mood to fill the gap formed near 1600 range. So overall Nifty Weekly Charts are indicating

a Strong Reversak Pattern with falling Stocastic Indicator.

Conclusion:

So by concluding all these things for the current week we are limited upto 4440 range in upside with

sequence of resistance at 4385,4400,4440. If we are able to sustain above that then we can see 4600-4800 levels

in coming months And Now this time iam gonna believe oStrongly on Nifty Weekly Charts rather than try beliving

on Daily and Hourly Charts. Just taking some longer duration charts.

1)And if we try breaking 4250 for the third time then i sure we are gonna reach 4000 kind of level and

even lower targets are possible.If you note currency markets Yen appreciates from 110.50 to 108.50 and rupee depriciate from 42 to 44. During june same thing happens and by that time crude Shots up heavily.In short rupee should not depriciate and Yen should not aprreciate But unfortunately both happens at the same time.And Market will explaining the effect.To know what happened last June try visitYen – Rupee Currency Mismatch and Selling in Indian Market

2) If we are able to move above 4440 then it suggest that crude is going to fall below $112/barrel because

operators targeted Reliance without any reason and cairn is moving little in negative direction. And Reliance

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About Rajandran

Rajandran is a Full time trader and founder of Marketcalls, hugely interested in building timing models, algos , discretionary trading concepts and Trading Sentimental analysis. He now instructs users all over the world, from experienced traders ,professional traders to individual traders.

Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

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